Bought 4 off market homes in tulsa

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $210,000
Cash invested: $68,000

Used private money and bought 4 separate sfr homes in Tulsa off market. All 4 are already rented with below market rents. Avg rent is $800 per house. 1 of the houses has a barn that I’m going to convert into another unit.

Paid $210k current rents are $800 each, market rents are $950-1200 per unit, market value of the 4 homes is $400,000

My goal is to fix up and raise rents to market, then refi at 75% ltv for nice cash flow and a nice payday too

I love real estate

What made you interested in investing in this type of deal?

Cash flow and buying way below market value

How did you find this deal and how did you negotiate it?

Off market, local investor found the deal made a finders fee

How did you finance this deal?

Private money loan

How did you add value to the deal?

Fix up raise rents and refinance

What was the outcome?

Fix up raise rents and refinance

Lessons learned? Challenges?

Buy at 50-60% ltv and you’ll be fine and happy

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No